Canada’s national housing agency warned homebuyers with small down payments to stay out of the market. They may have just done the exact opposite. Bank of Canada (BoC) data shows insured mortgages returned to growth in Q2 2020. This is the first time in years that insured mortgage debt has shown growth. Meanwhile, uninsured mortgages, […]
Canada’s late Spring real estate market continues, but some of the pent-up demand has caught up. Canadian Real Estate Association (CREA) data show a new all-time record for August sales. The rise is largely due to the lockdown delaying the busy Spring season into the Summer. The result is an odd comparison period, that is […]
Canadian immigration numbers have resumed massive drops, after briefly showing improvement in June. Government of Canada (GoC) data shows permanent resident arrivals made big declines in July. The previous month had briefly seen the declines shrink in size, providing optimism to real estate markets. However, the month proved to be an anomaly, with the latest […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Understanding Pent-Up Demand In Real Estate, And How Central Banks Broke Markets Pent-up demand is a temporary rise in consumer buying, after a period of restraint. It normally appears at the end of a recession, but not this time. During recessions, […]
“It’s pent-up demand, bro – the market’s recovered” is one of the most common things I hear these days. Unfortunately, most people parroting the words don’t actually understand what they’re saying. Pent-up demand means a temporary surge of buying activity, that falls when demand catches up. Temporary being the key word. Under normal circumstances, this […]
Most Canadians believe they’ll be able to pay their mortgage during the pandemic, it just won’t be easy for all. Mortgage Pros Canada (MPC), an industry group representing mortgage brokers, conducted a borrower survey on the impact of the pandemic. The survey yielded a number of interesting insights, but the most interest was the ability […]
Canada’s largest city has claimed the top spot for the rate of people in poverty, across the country. Statistics Canada (Stat Can) data released this morning shows a drop in at least one measure of poverty across the country. As expected, the drop was uneven though, with some of Canada’s major cities seeing a sharp […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Big Six Banks Set Aside Over $6 Billion For Credit Losses Canada’s Big Six banks have set aside billions of cash to prepare for losses on loans. Provisions for credit losses (PCLs) reached $6.76 billion in Q3 2020 at the […]
Canadian banks are starting to see mortgage payment deferrals expire, and households resume payments. Canada’s Big Six banks reported Q3 earnings last week, which ended on July 31, 2020. Mortgages on payment deferrals have dropped by nearly a fifth in the latest quarter. While that doesn’t tell us how many people actually needed the deferral, […]
Canadians using their homes at an ATM has slowed down during the pandemic. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate saw growth disappear in June. The slow down was even larger in the personal loan segment, which began declining for the first time […]
